Beginning in 2011, brokerage firms are required to report to the IRS not only proceeds from sales of stocks and mutual funds, but also the cost basis of the investments that are sold.
The IRS has designed a new Form 8949 for reporting capital gains and losses. Many transactions that, in previous years, would have been reported on Schedule D must now be reported on Form 8949 if they occur in 2011.
"A summary of the information listed on this form is carried over Schedule D. A couple of new columns are added to Form 8949 reporting – one for adjustments to basis (in case your broker has an incorrect figure) and one for coding the transaction to identify the type of sale."
The following represents the new Form 8949 for "Sales and Other Dispositions of Capital Assets", please click the link below to review the form.
http://www.irs.gov/pub/irs-pdf/f8949.pdf
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